Tencent Dismisses Reports Of Didi, Meituan Stake Sale

Tencent Holding Ltd TCEHY denied reports of considering selling down investments in companies from Meituan MPNGY to KE Holdings Inc BEKE to finance share buybacks and new businesses.
Tencent acknowledged it has no need to raise funds nor a timeline for such divestments, Bloomberg reported.
Reports surfaced regarding Tencent completing a review of its worldwide portfolio and identifying companies like DiDi Global Inc DIDIY that it may divest.
Since 2021, Tencent disclosed plans to sell shares in investees like e-commerce giant JD.com, Inc JD and Sea Limited SE as Beijing cracked down on the tech giants for anti-competitive behavior.
Recently, Tencent shareholders added $7.6 billion in shares to Hong Kong's clearing and settlement system, spurring selloff speculation by its biggest shareholder.
Simultaneously, Tencent laid off nearly all of the editorial staff at Fanbyte, an online gaming publication, shortly after failing to win gaming license approval since the regulators lifted the suspension.
After posting its first revenue decline last quarter, Tencent laid off about 5% of its workforce, affecting 5,000 people.